Company Overview
Reaktor is a leading provider of digital transformation services, specializing in software development, consulting, and innovation. With over 3,500 projects completed across eight business units, the company has established itself as a trusted partner for top-tier clients worldwide.
The primary mission of Reaktor is to empower businesses to thrive in the digital age by providing expert guidance on strategic transformation, innovative solutions, and cutting-edge technology. At its core, Reaktor values innovation, collaboration, and customer satisfaction, striving to deliver exceptional results that exceed expectations.
Key Products/Services
Reaktor's portfolio includes a range of services designed to support businesses in their digital transformation journey:
- Software development: Reaktor offers bespoke software solutions tailored to meet the unique needs of each client, leveraging the latest technologies and methodologies.
- Consulting: The company provides strategic consulting services to help clients navigate complex digital transformations, identify opportunities for growth, and optimize operations.
- Innovation: Reaktor's innovation arm focuses on developing cutting-edge solutions, prototypes, and proof-of-concepts to drive business growth and stay ahead of the competition.
Reaktor's services are designed to deliver tangible benefits, including:
- Increased efficiency and productivity through optimized software solutions and streamlined processes.
- Improved decision-making capabilities through data-driven insights and analytics.
- Enhanced customer experience through innovative digital solutions and strategic marketing initiatives.
Benefits and Unique Selling Proposition (USP)
Reaktor's unique selling proposition lies in its ability to deliver premium services that combine deep technical expertise, strategic guidance, and a customer-centric approach. By partnering with Reaktor, businesses can tap into a wealth of knowledge, experience, and innovation, ensuring they stay ahead of the curve in an ever-evolving digital landscape.
The company's focus on delivering exceptional results, combined with its commitment to innovation and customer satisfaction, sets Reaktor apart from competitors in the IT services market. By investing in Reaktor, investors can tap into a proven track record of success, a talented team of experts, and a unique value proposition that drives long-term growth and returns.
Valuation
| 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|
| Number of Shares (million) | 25.5 | 25.5 | 25.5 |
| Target Valuation (MEur) | 211.9 | 225.5 | 225.5 |
| Targer Price | 8.32 | 8.86 | 8.86 |
| Potential, % | 4.3 | 11.0 | 11.0 |
| Recommendation | Hold | Hold | Hold |
| MCAP (MEur) | 203.1 | 203.1 | 203.1 |
| Price | 7.98 | 7.98 | 7.98 |
| EV | 177.0 | 166.0 | 152.0 |
| P/S | 1.6 | 1.71 | 1.65 |
| EV/S | 1.4 | 1.4 | 1.23 |
| EV/EBIT | 18.03 | 13.98 | 13.86 |
| P/E | 25.74 | 21.34 | 23.19 |
| P/B | 5.58 | 4.42 | 3.71 |
| P/OCF | 14.99 | 16.49 | 12.7 |
| EV/OCF | 13.06 | 13.49 | 9.49 |
| P/FCF | 17.13 | 18.87 | 14.07 |
| EV/FCF | 14.92 | 15.44 | 10.51 |
Income Statement
| 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|
| Revenue | 120.3 | 116.9 | 117.7 | 126.9 | 118.7 | 123.2 |
| Rev. Growth, % | 0.0 | -2.8 | 0.7 | 7.8 | -6.5 | 3.8 |
| Ebit | 10.6 | 9.4 | 8.1 | 9.8 | 11.9 | 11.0 |
| Ebit Growth, % | 0.0 | -11.3 | -13.8 | 21.0 | 21.4 | -7.6 |
| Ebit, % | 8.8 | 8.0 | 6.9 | 7.7 | 10.0 | 8.9 |
| Profit | 2.9 | 5.6 | 7.8 | 7.9 | 9.5 | 8.8 |
| EPS | 0.13 | 0.24 | 0.34 | 0.31 | 0.37 | 0.35 |
| Profit Growth, % | 0.0 | 93.1 | 39.3 | 1.3 | 20.3 | -7.4 |
| Profit, % | 2.4 | 4.8 | 6.6 | 6.2 | 8.0 | 7.1 |
Balance Sheet
| 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Acc. Receivable | 20.7 | 15.8 | 17.2 | 24.7 | 26.5 | 20.8 |
| Cash | 14.5 | 7.8 | 4.3 | 31.3 | 42.1 | 56.5 |
| Equity | 19.0 | 5.1 | 7.1 | 36.4 | 45.9 | 54.7 |
| ROE, % | 15.3 | 109.8 | 109.9 | 21.7 | 20.7 | 16.1 |
| ROCE, % | 34.9 | 68.2 | 59.9 | 23.6 | 23.3 | 18.4 |
| Net Debt | -3.1 | 0.9 | 2.1 | -26.2 | -36.9 | -51.4 |
| Gearing, % | -16.3 | 16.8 | 29.9 | -71.8 | -80.4 | -93.9 |
| Equity ratio, % | 26.4 | 9.0 | 12.0 | 40.5 | 47.5 | 54.0 |
| Acc. Payable | 8.8 | 7.6 | 7.6 | 7.4 | 7.3 | 7.2 |
| Total Assets | 72.2 | 56.9 | 59.6 | 90.0 | 96.8 | 101.3 |
| ROA, % | 4.0 | 9.8 | 13.1 | 8.8 | 9.8 | 8.7 |
Cash Flow
| 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|
| Operating Cash Flow | 17.5 | 12.5 | 7.1 | 13.5 | 12.3 | 16.0 |
| Investment Cash Flow | -1.1 | -1.2 | -2.0 | -1.7 | -1.6 | -1.6 |
| Free Cash Flow | 16.4 | 11.2 | 5.1 | 11.9 | 10.8 | 14.4 |
| OCF/CAPEX | 15.95 | 10.2 | 3.49 | 8.03 | 7.93 | 10.29 |
| Financial Cash Flow | -8.9 | -18.0 | -8.3 | 15.1 | 0.0 | 0.0 |
Disclaimer
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